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PREPARING A PASTOR’S W-2 FORM

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Presentation on theme: "PREPARING A PASTOR’S W-2 FORM"— Presentation transcript:

1 PREPARING A PASTOR’S W-2 FORM
Please follow instructions at the top of each screen. To begin the presentation, just press your “down arrow”

2 Use “Down Arrow” or “Page Down” buttons for Next Screen
Preparing a W-2 for Pastors Use “Down Arrow” or “Page Down” buttons for Next Screen

3 Enter Pastor’s Social Security #
Press Down Arrow

4 Enter Employer’s E.I.N.# Press Down Arrow

5 Enter Employer’s Name and Address
Press Down Arrow Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999

6 Control Number is Optional
Press Down Arrow Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional)

7 Enter Pastor’s Name and Address
Press Down Arrow Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900

8 How to Calculate Box 1 Press Down Arrow 123-45-6789 51-9876543
??????????? Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900

9 (How to calculate taxable income)
SAMPLE ONLY (How to calculate taxable income) Press Down Arrow Begin with Total Comp= $40,000 (Do not include Housing Allowance) Subtract “Before-Tax” Pension= ($1,200) Subtract “Furn Allow”= ($2,000) Subtract “Pastor Contribution to Health Insurance= ($1,212) (see health/dental coupon) Subtract Pastor’s HSA ($2,500) Contribution or FSA Contributions (Health and Dependent) and FSA Adm (see health/dental coupon) Add Excess Life Premium + $72 Total Taxable= $33,570

10 Enter Pastor’s Taxable Compensation
Press Down Arrow 33570 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900

11 Enter any Federal Tax Withheld per Pastor’s W-4
(Leave #2 Blank if no tax withheld) Press Down Arrow 33570 4232 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900

12 For Pastors, Boxes 3, 4, 5, and 6 are Blank
Boxes 7-9 and 11 normally not applicable Press Down Arrow 33570 4232 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900

13 Complete Box 10 only if Pastor chose FSA Dependent Care
(for parents with children under 13 – see health and dental coupon if applicable) Press Down Arrow 33570 4232 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900

14 (Other codes, if applicable, are located on the back of the W-2)
Box 12 – Codes C, E, W, DD (Other codes, if applicable, are located on the back of the W-2) Press Down Arrow 33570 4232 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) Mark L. Matthew 13 Wesley Road Asbury, DE 19900

15 Begin with Total Comp= $40,000 (Do not include Housing Allowance)
SAMPLE ONLY (Code “C”) Press Down Arrow Begin with Total Comp= $40,000 (Do not include Housing Allowance) Subtract “Before-Tax” Pension= ($1,200) Subtract “Furn Allow”= ($2,000) Subtract “Pastor Contribution to Health Insurance= ($1,212) (see health/dental coupon) Subtract Pastor’s HSA ($2,500) Contribution or FSA Contributions (Health and Dependent) and FSA Adm (see health/dental coupon) Add Excess Life Premium + $72 TOTAL Taxable= $33,570 CODE “C”

16 Box 12 – Code C 33570 4232 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) C 72 Mark L. Matthew 13 Wesley Road Asbury, DE 19900

17 SAMPLE ONLY (Code “E”) Begin with Total Comp= $40,000 (Do not include Housing Allowance) Subtract “Before-Tax” Pension= ($1,200) Subtract “Furn Allow”= ($2,000) Subtract “Pastor Contribution to Health Insurance= ($1,212) (see health/dental coupon) Subtract Pastor’s HSA ($2,500) Contribution or FSA Contributions (Health and Dependent) and FSA Adm (see health/dental coupon) Add Excess Life Premium + $72 Total Taxable= $33,570 CODE “E”

18 Box 12 – Code E Press Down Arrow 123-45-6789 51-9876543 33570 4232
Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) C 72 E 1200 Mark L. Matthew 13 Wesley Road Asbury, DE 19900

19 Box 12 W is for persons in HSA only.
SAMPLE ONLY (CODE W) Press Down Arrow IMPORTANT NOTE Box 12 W is for persons in HSA only. Box 12W includes both pastor’s contribution (i.e. $2,500) plus the employer’s contribution In December, a letter is mailed to the pastor providing the amount of the Employer’s Contribution. Treasurers: Please get this letter from your pastor. Begin with Total Comp= $40,000 (Do not include Housing Allowance) Subtract “Before-Tax” Pension= ($1,200) Subtract “Furn Allow”= ($2,000) Subtract “Pastor Contribution to Health Insurance= ($1,212) (see health/dental coupon) Subtract Pastor’s HSA ($2,500) Contribution or FSA Contributions (Health and Dependent) and FSA Adm (see health/dental coupon) Add Excess Life Premium + $72 Total Taxable= $33,570 CODE “W”

20 Box 12 – Code E Press Down Arrow 123-45-6789 4232 51-9876543 33570
Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) C 72 E 1200 Mark L. Matthew 13 Wesley Road Asbury, DE 19900 W 4900

21 (Include the Health Cost – see December letter for amount)
Box 12 – Code DD (Include the Health Cost – see December letter for amount) Press Down Arrow 33570 4232 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) C 72 E 1200 Mark L. Matthew 13 Wesley Road Asbury, DE 19900 W 4900 DD 17908

22 Box 13 – mark if participating in CRSP (Clergy Retirement Security Program)
Press Down Arrow 33570 4232 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) C 72 x E 1200 Mark L. Matthew 13 Wesley Road Asbury, DE 19900 W 4900 DD 17908

23 Box 14 is optional – Information Box Only
33570 4232 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) C 72 x E 1200 Mark L. Matthew 13 Wesley Road Asbury, DE 19900 W 4900 DD 17908

24 Box 15 – State and ID# where salary was earned
(ID# is located on State Transmittal Form) 33570 4232 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) C 72 x E 1200 Mark L. Matthew 13 Wesley Road Asbury, DE 19900 W 4900 DD 17908 DE

25 Box 16 – Normally the same as Box 1
Press Down Arrow 33570 4232 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) C 72 x E 1200 Mark L. Matthew 13 Wesley Road Asbury, DE 19900 W 4900 DD 17908 DE 33570

26 Box 17 – State Tax withheld if Pastor requested
Press Down Arrow 33570 4232 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) C 72 x E 1200 Mark L. Matthew 13 Wesley Road Asbury, DE 19900 W 4900 DD 17908 DE 33570 250

27 Box 18 – Local Taxes withheld if Pastor requested
Press Down Arrow 33570 4232 Romans United Methodist Church 1500 Damascus Road Corinth, Delaware 19999 (Optional) C 72 x E 1200 Mark L. Matthew 13 Wesley Road Asbury, DE 19900 W 4900 DD 17908 DE 33570 250 33570 100

28 If you have questions, please contact me at tcleary@pen-del.org
call , extension 216.

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